Ghana: The United States announces bilateral assistance of $139 million for this country in fiscal year 2024

The United States announces bilateral aid of $139 million for Ghana during the 2024 fiscal year. The information comes from a press release from the American presidency published on Monday, March 27.

The announcement comes amid US Vice President Kamala Harris’ (pictured) African tour, including her visit to Ghana from March 26-28. This aid aims to support the structural reforms of the Ghanaian government in order to “promote inclusive economic growth, innovation and regional integration; investing in women and youth; strengthen engagement with the African Diaspora; addressing common health challenges; and building climate resilience”.

Emphasis will also be placed on Accra’s efforts to restructure its public debt, which stood at $29.2 billion in 2022. After requesting debt restructuring under the G20 Common Framework, the country west -African closed the domestic debt swap program with a participation rate of more than 80%. In addition, “very cordial and fruitful” negotiations with China, its main creditor, on the restructuring of bilateral debt began earlier this month.

This visit by the American Vice-President follows that of American Secretary of State Anthony Blinken to Ethiopia and Niger two weeks ago, with a view to strengthening ties between the world’s leading power and its African partners.

In recent years, Africa has been the scene of growing competition between world powers. China has invested heavily in the continent over the past two decades, while Russia is increasingly focusing its cooperation with the continent in the security sector.

It should be noted that Washington is planning funding of $100 million, with a disbursement of $86 million over 3 years, to support conflict prevention and stabilization efforts in West African coastal countries. The countries concerned are Benin, Côte d’Ivoire, Ghana, Guinea and Togo.